Confusion on tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2016
Hello Experts
Mr. X is owner of a plot.
Mr. X has given this plot to Mr. Y on rent basis. (but indirectly Mr. Y will pay this whole amount to Mr. X-as Mr. X is already under high tax bracket)
XYZ a partnership firm is paying Mr. Y, Rs. 15,000/- PM for putting up hoarding on this plot.
Queries are-
1) TDS rate?
2) TDS under which section?
3) Whether an Agreement is necessary?
Thanks
Mr. X is owner of a plot.
Mr. X has given this plot to Mr. Y on rent basis. (but indirectly Mr. Y will pay this whole amount to Mr. X-as Mr. X is already under high tax bracket)
XYZ a partnership firm is paying Mr. Y, Rs. 15,000/- PM for putting up hoarding on this plot.
Queries are-
1) TDS rate?
2) TDS under which section?
3) Whether an Agreement is necessary?
Thanks
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 May 2016
Please help on this matter
10 May 2016
For Transaction between X and Y- 194I applies. Y will deduct TDS on rent paid to X and ay to Govt.(if Y comes into Tax Audit Provisions)
For Transaction between XYZ and Y- XYZ will deduct TDS on rent paid to Y and ay to Govt.
For Transaction between XYZ and Y- XYZ will deduct TDS on rent paid to Y and ay to Govt.
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